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Extensive Marketing Strategy of Karur Vysya Bank – Detailed Explanation

Updated on: Sep 29, 2022
Marketing Strategy Of Karur Vysya Bank - Featured Image

In a recent post, we learned about Cummins’ comprehensive marketing strategy. Paytm is a well-known, international financial technology business with headquarters in India. 

We will go into more detail about the marketing strategy of Karur Vysya Bank in this blog.

In order to become the largest branch of a specific bank in India, the goal is to understand KVB and how it grew to be one of the top banks in India.

So, as you can see, the world is fully online now, and marketing is the rib of every industry. If you are interested to know more about marketing then do check out our Free Masterclass on Digital Marketing by the CEO and founder of IIDE, Karan Shah.

By the end of this blog, we will have learned the full marketing strategy of Karur Vysya Bank. Let’s start with the company’s history, target market, and online presence before looking deeper.

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About KVB – Overview

India’s commercial banking industry has a 200-year history. Although the beginning of the 20th century witnessed the establishment of numerous banks in India, the history of banking dates back to the 19th century. These banks were founded by individuals with vision, dedication, and a sense of patriotism.

One such bank, the Karur Vysya Bank, was established in Karur, a textile town in Tamil Nadu, in 1916 by two great visionaries and renowned sons of Karur, the Late Shri M A Venkatarama Chettiar and the Late Shri Athi Krishna Chettiar, to offer financial help to the local farmers and traders.

Together, they raised the initial capital of Rs. 1 lakh required to launch their company on July 1st, 1916. Since that time, the bank has developed into one of the top financial institutions in the nation. The bank is professionally run by the board of directors, who provide leadership through their vision, experience, knowledge, and business savvy.

With 782 branches in 20 States and 3 Union Territories, the Bank has expanded its reach across the nation.

Since its founding, KVB has always maintained solid fundamentals, generated profits, and given its shareholders sizable dividends. The Bank rigorously complies with all legislative requirements and stringent prudential standards.

In FY16, it launched a variety of programmes, including reloadable cards, Kisan credit cards, automatic passbook kiosks, e-books, etc. The most recent was the rollout of the UPI-based payment system and quick tag. As of March 31, 2022, there are more than 1,25,000 crores in total business.

Quick Stats on Karur Vysya Bank
CEO Ramesh Babu Boddu
CMO Srinivasan KR
Area Served India
Industry Banking and Financial Service
Market Share/ Revenue $802.06M Per Year
Vision

Delight customers continually by blending tradition with technology.

Tagline Smart Way to Bank

 


Marketing Strategy of Karur Vysya Bank

Segmentation, Targeting, and Positioning

At KVB, they are gradually beginning to replace traditional farm financing in favour of a more diversified lending approach for rural communities. Our efforts to advance financial inclusion and provide accessible financial solutions to society’s most disadvantaged groups are aided by the introduction of new products throughout the lifetime of both farming and non-farming activities. More branches can be found in semi-urban and rural locations in 54 % of the country.

Utilise technology to launch new goods and services, raise the value of existing ones over time, and offer them at affordable prices. Increase branch network to cover all major business districts as well as unbanked and underbanked regions of the nation. Strengthen the financials by allocating cash wisely and maintaining financial restraint while following the regulator’s rules. Update the human capital’s knowledge and abilities to deliver top-notch customer assistance.

The Smart way for complete Banking solutions KVB’s business model is based on speed and agility. To create a stronger and more intelligent corporation, and accept and adapt to change. Also, continue to supply financial services that satisfy a range of needs while upholding the tradition that has been a part of us for more than 100 years. And we’re aware of the significance of implementing scalable technical platforms that permitted efficient and seamless operations during the nationwide lockdown as the COVID-19 epidemic transformed the way of life. They were able to adopt newer ideas and establish new priorities thanks to our agility, which sped up our response times.


Marketing Campaigns

Marketing Strategy Of Karur Vysya Bank - Digital Loans Campaign by KVB

KVB has devised this loan to help you service any personal or business needs that may arise and leave you unprepared. The uniqueness of this loan is that it can be repaid in instalments or in full at the end of the loan period, whichever suits the loan taker.

Marketing Strategy Of Karur Vysya Bank - Your Insurance, Our Concern by KVB

Karur Vysya Bank in association with Aditya Birla Health Insurance Co ltd., Niva Bupa Health Insurance Co Ltd., and Star Health & Allied Insurance Co Ltd. offers a wide range of health insurance plans to cater to the needs of its customers.

Marketing Strategy Of Karur Vysya Bank - Manage your $ in ₹ Campaign by KVB

As an NRI, we offer you specially customised accounts tailored to your needs. Our bank accounts offer you the option to transact in the local currency of the country you are in or in Indian Rupees, for the ease of money remittance back to India.


Social Media Marketing

KVB list of followers on Social Media

Facebook – 214K
Instagram – 5.1K
Twitter – 13.1K
LinkedIn – 11.7K
YouTube – 1.5K

They have over 2 lakh followers on Facebook alone, as you can see. On Facebook, their posts had a cumulative reach of almost 81 million people.

The handles are used for product promotion and also offer tips for safe banking. Social media is also used to promote DLite App installations actively, and the cost per click is proving to be economical over time. Creative content, Instagram stories and short videos have helped bring traction to our handles. 


SEO Strategies

Marketing Strategy Of Karur Vysya Bank - SEO Strategies of KVB

As per SEO ranking, it is said that the number of keywords – below 500 is bad, above 1000 is good, and 10,000+ is amazing. As we can see that www.kvb. keywords and it’s considered Amazing. That means the digital marketing of KVB  is gaining a very good number of insights. 

Also, the traffic per month is around 248K+ which is known as Best. Hence, KVB doesn’t need improvements in its SEO strategies while working hard enough to keep the brand soaring in the Google organic SERP results.


Influencer Marketing

There is no such mention of Influencer Marketing given on the official website of Karur Vysya Bank.


Mobile App

Marketing Strategy Of Karur Vysya Bank - DLite App’s Logo

KVB DLite

Banking made it easier, now carry out your financial and non-financial transactions anytime anywhere through your mobile phone with KVB. It’s a simple and convenient way to perform banking services when you’re on the go. Available for both on ANDROID & IOS.

Ecommerce Strategies

Marketing Strategy Of Karur Vysya Bank - Ecom

KVB is still working to expand our digital skills and foster growth via the use of technology. They have greatly increased profitability thanks to solid digital infrastructure and expanding digital presence. Customers now want financial services available anywhere and at all times. Their strategy goal is to provide cutting-edge, reliable, and secure digital resources to both retail and business consumers. 

They have been able to effectively adapt to the quickening shift to digital channels thanks to our continued focus on business transformation and investment in digital infrastructure. Maintain your investment in creating the KVB of tomorrow. Paperless onboarding Risk analysis and mitigation Quicker sanctions Digital loan documentation Efficient credit analysis.


Content Marketing Strategies

KVB is largely active in content marketing. They’ve all kinds of social media accounts like Instagram, Facebook, and Twitter and also have a YouTube channel. The social media post content is related to their new scheme of the loan and insurance etc. Also, they press releases about their campaign via various sources such as The Economic Times, MoneyControl, The New Indian Express, etc.

This ends with an elaborative marketing strategy of Karur Vysya Bank. Let us conclude our learning below from the marketing strategy of Karur Vysya Bank.

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Conclusion – What’s Unique in Karur Vysya Bank Marketing?

KVB is almost on par with new generation private banks in technology. It has enforced Core Banking results across the bank including rural branches. Using this technology platform has enabled multiple delivery channels, ATM networks, VISA Debit Cards, Mobile Banking, and Internet Banking.

Digital marketing is crucial since it links a company with its clients when they are online and is effective across all sectors. It links businesses with ideal consumers through SEO and PPC on Google, social media marketing, and email marketing. If you would like to learn more and develop skills, check out IIDE’s 4-Month Digital Marketing Course to learn more.

Alternatively, you can enrol in one of our free online masterclasses led by IIDE’s CEO, Karan Shah, to gain insight into the field of digital marketing. 

We hope this blog on the marketing strategy of Karur Vysya Bank has given you a good insight into the company’s marketing strategies.

If you like such in-depth analysis of companies just like the marketing strategy of Karur Vysya Bank check out our IIDE Knowledge portal for more fascinating case studies.

Thank you for taking the time to read the marketing strategy of Karur Vysya Bank, and do share your thoughts on this case study marketing strategy of Karur Vysya Bank in the comments section below.

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Aditya Shastri

Lead Trainer & Head of Learning & Development at IIDE

Leads the Learning & Development segment at IIDE. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. He has been a guest speaker at prominent colleges in India including IIMs......[Read full bio]

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